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TCJA

Tax Accounting and Business Consulting

TCJA temporarily lowers medical expense deduction threshold

Certified Public Accountant Medical Expenses

TCJA temporarily lowers medical expense deduction threshold With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a threshold for deducting medical expenses that may be hard to meet. Fortunately, the Tax Cuts and Jobs Act (TCJA) has temporarily reduced the threshold. […]

Filed Under: Individual Tax Advice Tagged With: Covington Louisiana CPA, Louisiana Tax, Mandeville CPA, New Orleans CPA, New Tax Law, TCJA

Tax Accounting and Business Consulting

Claiming bonus depreciation on your 2017 tax return may be particularly beneficial

Certified Public Accountant Bonus Depreciation 2017

Claiming bonus depreciation on your 2017 tax return may be particularly beneficial With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation. Typically, taking this break is beneficial. […]

Filed Under: Small Business Tax Advice Tagged With: Covington Louisiana CPA, Louisiana Tax, Mandeville CPA, New Orleans CPA, New Tax Law, Small Business Taxes, TCJA

Tax Accounting and Business Consulting

State and local sales tax deduction remains, but subject to a new limit

Certified Public Accountant State tax deduction

State and local sales tax deduction remains, but subject to a new limit Individual taxpayers who itemize their deductions can deduct either state and local income taxes or state and local sales taxes. The ability to deduct state and local taxes — including income or sales taxes, as well as property taxes — had been on the tax reform chopping block, […]

Filed Under: Individual Tax Advice Tagged With: Covington Louisiana CPA, Louisiana Tax, Mandeville CPA, New Orleans CPA, New Tax Law, TCJA

Tax Accounting and Business Consulting

2 tax credits just for small businesses may reduce your 2017 and 2018 tax bills

Certified Public Accountant business tax credits

2 tax credits just for small businesses may reduce your 2017 and 2018 tax bills Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or […]

Filed Under: Small Business Tax Advice Tagged With: Covington Louisiana CPA, Louisiana Tax, Mandeville CPA, New Orleans CPA, New Tax Law, Small Business Taxes, Tax Credits, TCJA

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About Us

Covington CPA and Tax Accountants Team

Tax Accounting and Business Consulting: We provide tax accounting, payroll, 401(k), business

Outsourced Staffing

CRAF.IO Accounting Outsourcing

CRAF.IO provides direct hire remote accounting staffing services. For more information, visit https://craf.io/

TAX NEWS AND ADVICE

  • Individual Tax Advice
  • Personal Finance
  • Small Business Tax Advice

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Company Profile

CMR Associates provides tax accounting, payroll, 401(k), business valuation, consulting, and financial planning services.

Serving clients throughout the country, we embrace distributed work environments.

Terms and Conditions
Outsourced Accountant CPA
All the Presidents’ Taxes

Accounting News and Updates

  • What Silicon Valley Bank’s Failure Can Teach Us about Personal Financial Planning
  • How to Maximize Your Tax Refund for 2022
  • Want to Save Taxes? Maximize Deductions and Use the S-Corp Structure
  • IRA account value down? It might be a good time for a Roth conversion
  • Understanding and controlling the unemployment tax costs of your business
  • Watch out for tax-related scams
  • Setting up a Health Savings Account for your small business

Write or Call Today

CMR Associates, LLC
207 E Gibson St
Covington, LA 70433

(888) 530-5630
office@cmrtax.com

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